3CD
Suresh Pai S (Tax Consultant) (1029 Points)
09 September 2017
What is the requirements of clause 36 of 3CD?
4 Replies
Pranay Teja
(49 Points)
Replied 09 September 2017
This clause discloses profits distributed excluding deemed dividend u/s 2(22)e. Profits distributed during the previous year, tax on that amount is required to be disclosed.
Tax auditor need not enquire as to how dividend is arrived at
Tax auditor need not enquire as to how dividend is arrived at
Pranay Teja
(49 Points)
Replied 09 September 2017
This clause discloses profits distributed excluding deemed dividend u/s 2(22)e. Profits distributed during the previous year, tax on that amount is required to be disclosed.
Tax auditor need not enquire as to how dividend is arrived at
Tax auditor need not enquire as to how dividend is arrived at
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 09 September 2017
So if partnership firm has distributed profit, that needs to be shown there?
Pranay Teja
(49 Points)
Replied 09 September 2017
Sir, the wordings of the clause starts with "In the case of domestic company, details of tax on distributed profits...."
Therefore this clause is applicable to only domestic companies and not to partnership firms
Therefore this clause is applicable to only domestic companies and not to partnership firms
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